Social Media for Business: New Trends in 2024
Social media is indispensable in the modern customer journey, crucial for businesses of all sizes. Despite budget constraints, executives prioritize it for its influence on purchasing decisions across all stages—from discovery to advocacy. Nearly every business benefits from social media marketing, reaching target audiences and boosting sales effectively. While experiences vary by industry and business type, integrating social media offers significant growth opportunities for all.
Benefits of using social media for business
Brand visibility
Social media enables global brand exposure through vast user engagement, facilitating instant recognition and authority in competitive markets.
Audience engagement
Interactive content fosters real-time connections, deepening brand relationships and encouraging advocacy among followers.
Establishing thought leadership
Platforms offer a voice to showcase expertise, enhancing trust and positioning brands as industry authorities.
Customer loyalty
Two-way interactions build community, trust, and emotional bonds, driving long-term customer retention and advocacy.
Lead generation
Strategic content and targeted ads capture leads, utilizing user data to nurture prospects into customers effectively.
Enhanced brand credibility
Genuine influencer collaborations bolster brand trust and reach, mitigating risks associated with influencer fraud.
Cost-effective advertising
Compared to traditional channels, social media offers affordable options with precise audience targeting for optimal ROI.
Enhanced SEO rankings
Increased social engagement indirectly boosts website visibility and authority, enhancing search engine rankings.
Real-time customer feedback
Direct interaction aids in immediate customer service and provides insights into preferences, improving brand reputation.
Build brand personality and voice
Consistent messaging builds brand identity, fostering relatability and loyalty among audiences.
Expand market reach
Global connectivity breaks geographical barriers, allowing businesses to reach diverse audiences and enter new markets.
Access insights and analytics
Comprehensive data analytics enable informed decision-making, optimizing strategies and improving audience engagement.
Keep an eye on your competitors
Social media competitor analysis is crucial for every marketer. By observing your competitors’ activities, you can gain insights into their strategies, identify market trends, and find opportunities to differentiate your brand.
Trends in social media for business
Long-form content returns
For the past three years, short-form content with trending audio has been key on TikTok and Instagram. But in 2024, creators and brands need more creative, longer, and original content to stand out. Video content is shifting beyond 15-30 seconds, with platforms encouraging longer videos to compete with YouTube. The challenge is incorporating long-form content without abandoning trends.
Influencers use product placement
Influencers subtly highlight products, like lip gloss in unrelated videos, sparking audience curiosity. This method, exemplified by Clara Peirce’s skincare routine, intrigues viewers without overwhelming them. Brands with affiliate marketing programs will likely adopt this strategy.
TikTok enters its “Facetime” era
TikTok content is shifting to casual, off-the-cuff storytelling, creating deeper connections. Audiences want more “FaceTime” with their favorite influencers, craving companionship over entertainment.
More AI integrations
Brands will increasingly adopt AI, whether in software or AI-inspired filters and tools. AI features like Later’s Caption Writer generate social media captions quickly, though originality remains crucial.
Nostalgia core
Nostalgia trends, fueled by Gen Z’s love for 90s and Y2K fashion, will dominate in 2024. Brands will create throwback content and use vintage promos. Influencers will also embrace nostalgic aesthetics.
Keyword search & SEO take center stage
With nearly half of Gen Z using TikTok and Instagram for search, optimizing posts with keywords is essential. This reflects a shift toward more exploratory and personal content discovery.
More selectivity with platforms
To avoid burnout, brands must be selective about where to focus their social media efforts. Prioritizing quality over quantity and choosing impactful platforms will be key.
Instagram doubles down on Gen Z
Instagram usage is rising among Gen Z and Meta’s focus on this demographic suggests continued growth. This could also benefit Instagram Threads as it seeks a more active user base. Brands and influencers who experiment with new strategies will find success. Also, brands schedule Instagram posts in advance to get maximum engagement.
Storytelling is less linear
Non-linear storytelling is growing, with trends like starting stories mid-way or using multiple arcs. This style hooks audiences, prompting deeper engagement.
Gated content
Gated content is rising due to fatigue from suggested content and creators wanting deeper connections and monetization opportunities. Platforms like Instagram Subscriptions and Substack support this trend.
Final Thoughts
Social media has become indispensable in today’s consumer journey, proving crucial for businesses of all sizes. Despite budgetary constraints, executives prioritize social media investments due to its unmatched ability to influence purchasing decisions across all stages, from initial discovery to brand advocacy. As the landscape evolves, businesses stand to gain significant advantages, including enhanced brand visibility, deeper audience engagement, and effective lead generation.
